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Triplex said:
Don't knock that idea. I've done that only I made my own investment decisions. Borrowing money at a fixed low interest rate to invest it where I got a much better return is a wise decision. If that's not for you, fine, but it can be a very smart move.
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Yes, if it’s an investment with guaranteed return which both mine were it’s even better . If you do it with minimal risk and assuming you can cover the loss of principal which I could in both circumstances it’s a no brainer.
 
joes bar and grill said:
Nope, the return is so small it negates the effort put into it.
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It’s not really any more effort. A loan of this type can be paid off at any time . If investing 50 k in a short period can make let’s say $5 - 8 k after gains tax I’m still doing well . When car manufacturers offer zero interest loans as an incentive to move vehicles it silly not to use it in my case because I have cash to cover the loan at any minute. Takes 5 minutes to get approved with my near perfect credit score. The loan can be paid in full at anytime . The payments come automatically from my brokerage account where I always have enough money to cover it . Where’s the effort or downside? I’m not saying it’s for everyone. My money is always working for me . It NEVER sits idle . Think like your a big guy . It works for me and I have 0 regrets.
 
Hell , Jacobs would be nothing if he didn’t have and use OPM . Got to make others work for you . The cheaper you can get labor and money the better he does . It’s the foundation of his business.
 
Fly-by-night said:
Well for one I wouldn't buy a 50K car. But since you financed the car now you have to have full coverage insurance...More money out of your pocket on top of the monthly payment. Also I save up for a replacement vehicle. So you finance and invest the cash. I invest then pay cash. So we both made money the different is when I drive off the lot I own the car, but your finance company owns yours.
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I see that sucker already asked the question that I was going to ask.....my first thought was you are crazy not to carry full coverage on a new car or slightly used car. Then I thought maybe you have something there...so what would be your reasoning on not carrying full coverage? I don't ever buy brand new myself I prefer to go a year or two old to save on the huge depreciation hit. Looking forward to your reasoning....
 
joes bar and grill said:
Where are you going to make 5 to 8 grand on 50 grand in 5 years?
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I have made more than that in 1 month . Seriously, with good advice and proper timing that’s totally doable. Not saying it all the time but often enough that I have done well . I’m no market genius and if I come off sounding like it I apologize. I’m just telling you what I have done and what works for me .
 
sucker666 said:
I have made more than that in 1 month . Seriously, with good advice and proper timing that’s totally doable. Not saying it all the time but often enough that I have done well . I’m no market genius and if I come off sounding like it I apologize. I’m just telling you what I have done and what works for me .
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I don't think 5 to 8 grand in five years is out of the question .....I mean what would the rate of return over 5 years for the 5 grand be, like 2 or 3 percent?
 
ABF381 said:
I don't think 5 to 8 grand in five years is out of the question .....I mean what would the rate of return over 5 years for the 5 grand be, like 2 or 3 percent?
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I’m talking about individual stock so the risk is high as is the return. Not for everyone and not for me all the time . I do that risk level only when advised that it’s worth the risk. I took me a while years ago to warm up to doing this . Like I said it’s not for everyone.
 
sucker666 said:
I have made more than that in 1 month . Seriously, with good advice and proper timing that’s totally doable. Not saying it all the time but often enough that I have done well . I’m no market genius and if I come off sounding like it I apologize. I’m just telling you what I have done and what works for me .
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The phrase you are looking for is “ not a financial advisor - not financial advice “
 
Triplex said:
Why would you assume that just because someone drives a truck that they can't be knowledgeable about many other things?
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This is the dumbest job I have ever had. Running a register at the store takes more effort and knowledge. Only reasons we get paid so much is random drug testing. Insane hours. Horrific working conditions.
 
highspeeds said:
This is the dumbest job I have ever had. Running a register at the store takes more effort and knowledge. Only reasons we get paid so much is random drug testing. Insane hours. Horrific working conditions.
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My point being. Literally everyone is knowledgeable enough to be a truck driver. Most people are smart enough not to be. Regardless. Virtually anyone will have a larger scope of intelligence than just driving trucks. Some farm. Some rent out houses and apartments. Others run small businesses through their wives. Very rarely is someone just a truck driver.
 
ABF381 said:
my first thought was you are crazy not to carry full coverage on a new car or slightly used car.
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sucker666 said:
Your not going to carry full coverage on a new car if you don’t finance it ?
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Were did I say I didn't. I said you must...The finance company requires it. Yes I have full now but in the past I didn't when you have beater cars why pay the extra money on them. In the past I have had atleast 2 beater cars and carried the basic insurance on them. If anything happened to them say hit a deer it cost more then the car is worth to fix so you junk it and look for another one. I just took that extra money I was not paying to insurance and invested it and when I need a replacement I went and bought another beater
 
sucker666 said:
I’m talking about individual stock so the risk is high as is the return. Not for everyone and not for me all the time . I do that risk level only when advised that it’s worth the risk. I took me a while years ago to warm up to doing this . Like I said it’s not for everyone.
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The difference is some on here can afford to do it and other can't 50K in a single stock is very high risk and returns like that are not uncommon. As you pointed out you have the money to pay a 50K loan off at any time most don't. So using you numbers if you loan 50K to buy a car that is over $1041 per month on a 4yr loan and over $833 on a 5yr at zero %. That means you investment must cover those payment and more to be worthwhile. Meaning the investment must more then double in the same time frame. Just because you get a big win one month doesn't mean you get it every month. You have the money to do this I'm talking to those who don't. To those who don't it always better to pay cash and own it outright the to take a loan on it even if it's zero % just read the term miss a payment then it goes to ??%. I know in the last year I heard of the repo guys were very busy.
 
Fly-by-night said:
The difference is some on here can afford to do it and other can't 50K in a single stock is very high risk and returns like that are not uncommon. As you pointed out you have the money to pay a 50K loan off at any time most don't. So using you numbers if you loan 50K to buy a car that is over $1041 per month on a 4yr loan and over $833 on a 5yr at zero %. That means you investment must cover those payment and more to be worthwhile. Meaning the investment must more then double in the same time frame. Just because you get a big win one month doesn't mean you get it every month. You have the money to do this I'm talking to those who don't. To those who don't it always better to pay cash and own it outright the to take a loan on it even if it's zero % just read the term miss a payment then it goes to ??%. I know in the last year I heard of the repo guys were very busy.
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I give up. Just keep doing what your doing. You know best .
 
sucker666 said:
I give up. Just keep doing what your doing. You know best .
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Even some of the experts say it too:
www.bankrate.com

What You Should Know About 0% APR Car Deals | Bankrate

While a 0 APR car deal or low-interest car loan may seem enticing, it may cost you more than getting a loan through a bank or credit union would.
www.bankrate.com www.bankrate.com
www.investopedia.com

Zero Percent: What It Is, How It Works, Example

"Zero percent” refers to promotional interest rates often used by businesses wishing to sell big-ticket items such as cars or home appliances.
www.investopedia.com www.investopedia.com
 
sucker666 said:
Hell , Jacobs would be nothing if he didn’t have and use OPM . Got to make others work for you . The cheaper you can get labor and money the better he does . It’s the foundation of his business.
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OPM as you call it are what they call investors???? From what you say you an investor too...
 
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